Renasant Bank Buys 86 Shares of Accenture plc (NYSE:ACN)

Renasant Bank grew its position in Accenture plc (NYSE:ACN) by 7.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,207 shares of the information technology services provider’s stock after purchasing an additional 86 shares during the period. Renasant Bank’s holdings in Accenture were worth $425,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ACN. Baldwin Wealth Partners LLC MA increased its holdings in shares of Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after buying an additional 3,883 shares in the last quarter. Davidson Trust Co. grew its position in Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after acquiring an additional 158 shares during the last quarter. Franklin Street Advisors Inc. NC raised its position in Accenture by 126.8% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock valued at $14,090,000 after purchasing an additional 22,391 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Accenture by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock worth $1,705,100,000 after purchasing an additional 56,937 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Accenture by 37.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock worth $1,088,000 after purchasing an additional 843 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

Shares of ACN opened at $316.48 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $198.05 billion, a PE ratio of 26.55, a P/E/G ratio of 3.23 and a beta of 1.24. The stock has a 50 day simple moving average of $363.72 and a 200 day simple moving average of $358.10. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.27 earnings per share. Sell-side analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACN. Morgan Stanley upped their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and raised their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. BMO Capital Markets increased their price objective on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $388.96.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the sale, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

Accenture Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.